Landmark Malibu Riviera Motel Sold

The Malibu Riviera Hotel has been sold to an investment group, reports The Malibu Times. It is the first time the aging property has exchanged hands since it was built by early Malibu settlers Wayne and Helen Wilcox in the late 1940s.

“This has all been bittersweet,” Rob Wilcox told The Malibu Times, who took over management of the hotel from his father, Gary.

The hotel sits on 4.34 acres, according to LA Curbed. It was listed for sale in January for a reported $7.5 million, according to themaliburealestateblog. It is a 12-unit, single story motel with cinder block construction whose current amenities include free wifi, digital cable, a hot tub and a private balcony attached to each room, according to the hotel website.

“It’s not going to be torn down,” Maggie Pedersen told The Malibu Times. Pedersen has managed the motel since 2013 with her boyfriend, Rob Wilcox, the third generation Wilcox to run the motel. “The structure of the building is still going to be the same, they’re just going to renovate it and give it a major facelift.

“[The Wilcox family] just wants to give it to somebody that’s going to give it new life.”